Wolfgang Breuer

Aachen University - Department of Finance

Templergraben 55

D-52056 Aachen, 52056

Germany

SCHOLARLY PAPERS

51

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20

Scholarly Papers (51)

1.

Cultural Finance

Number of pages: 37 Posted: 12 Oct 2008 Last Revised: 01 Jul 2009
Wolfgang Breuer and Benjamin Quinten
Aachen University - Department of Finance and RWTH Aachen University - Chair for Business Administration, particularly Business Finance
Downloads 1,316 (7,520)
Citation 6

Abstract:

national culture, cultural value, finance, institutional economics

National Culture and Corporate Governance

Sabri Boubaker, Bang D. Nguyen, Duc K. Nguyen (Eds.), “Corporate Governance: Recent Developments and New Trends”, Berlin, pp. 369-398, 2012,
Number of pages: 65 Posted: 01 Sep 2008 Last Revised: 15 Dec 2014
Wolfgang Breuer and Astrid Juliane Salzmann
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 709 (28,302)

Abstract:

national culture, corporate governance

National Culture and Corporate Governance

23rd Australasian Finance and Banking Conference 2010 Paper
Number of pages: 65 Posted: 18 Aug 2010 Last Revised: 07 Jan 2011
Wolfgang Breuer and Astrid Juliane Salzmann
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 345 (70,815)

Abstract:

corporate governance, national culture

3.

Estimating Cost of Capital in Firm Valuations with Arithmetic or Geometric Mean - Or Better Use the Cooper Estimator?

Number of pages: 43 Posted: 28 Jul 2008 Last Revised: 26 Sep 2011
Wolfgang Breuer, Daniel Fuchs and Klaus Mark
Aachen University - Department of Finance, University of Bonn - Institute of Business Administration I and Kreditanstalt für Wiederaufbau (KFW)
Downloads 878 (19,930)
Citation 1

Abstract:

arithmetic mean, cost of capital, estimation bias, firm valuation, geometric mean

4.

The Behavioral Foundations of Corporate Dividend Policy: A Cross-Country Analysis

Number of pages: 63 Posted: 07 Apr 2011 Last Revised: 08 Jan 2014
Aachen University - Department of Finance, University of Trier and RWTH Aachen University - Chair for Business Administration, particularly Business Finance
Downloads 825 (19,382)
Citation 1

Abstract:

ambiguity aversion, behavioral decision theory, corporate dividend policy, loss aversion, patience

5.

Private Equity for SME: A Behavioural Model of the Demand-Side Perspective

Number of pages: 50 Posted: 06 Jun 2008 Last Revised: 11 Aug 2009
Malte Brettel, Wolfgang Breuer, Philipp Espel and Annas Abedin
Aachen University of Technology (RWTH), Aachen University - Department of Finance, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 740 (23,924)

Abstract:

finance paradigm, private equity, SME financing, SME capital structure decision, Theory of Planned Behaviour (TPB)

6.

Bank vs. Bond Finance: A Cultural View of Corporate Debt Financing

Bryan Christiansen, Joyce Koeman (Eds.), “Handbook of Research on Global Business Opportunities”, Hershey, Pennsylvania, USA, pp. 289-315, 2014,
Number of pages: 39 Posted: 16 Aug 2009 Last Revised: 15 Dec 2014
Aachen University - Department of Finance, RWTH Aachen University - Chair for Business Administration, particularly Business Finance and RWTH Aachen University - Department of Finance
Downloads 543 (36,681)

Abstract:

National Culture, Cultural Values, Financing Structure

7.

Financial Instruments with Sports Betting Components: Marketing Gimmick or a Domain for Behavioral Finance?

Number of pages: 51 Posted: 07 Jan 2008
Wolfgang Breuer, Guido Hauten and Claudia Kreuz
Aachen University - Department of Finance, RWTH Aachen University and RWTH Aachen University
Downloads 513 (40,854)

Abstract:

behavioral finance, financial engineering, sports betting, structured products

8.

National Culture and Household Finance

Global Economy and Finance Journal 5, 37-52, 2012
Number of pages: 16 Posted: 13 Aug 2009 Last Revised: 23 Oct 2013
Wolfgang Breuer and Astrid Juliane Salzmann
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 475 (38,457)
Citation 1

Abstract:

national culture, household finance, portfolio choice, saving behavior, consumption

9.

National Culture and Business Systems

Journal of Business and Policy Research 7, 100-122, 2012
Number of pages: 38 Posted: 30 Apr 2009 Last Revised: 23 Oct 2013
Wolfgang Breuer and Astrid Juliane Salzmann
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 402 (47,277)

Abstract:

business systems, innovation strategy, finance, national culture

10.

Google Scholar as a Means for Quantitative Evaluation of German Research Output in Business Administration - Some Preliminary Results

Number of pages: 69 Posted: 07 Oct 2008 Last Revised: 09 May 2013
Wolfgang Breuer
Aachen University - Department of Finance
Downloads 341 (68,365)
Citation 4

Abstract:

German business administration, Google Scholar, ISI web of science, research output

11.

Venture Capital Financing in Germany - The Role of Contractual Arrangements in Mitigating Incentive Conflicts

Number of pages: 48 Posted: 23 Feb 2007
Wolfgang Breuer, Ron C. Antonczyk and Malte Brettel
Aachen University - Department of Finance, Aachen University - Department of Finance and Aachen University of Technology (RWTH)
Downloads 331 (67,471)
Citation 3

Abstract:

agency conflicts, covenants, German capital market, hold-up problems, venture capital

12.

The Syndication Network and Deal Flow of Venture Capital Firms

Number of pages: 30 Posted: 02 Oct 2007
Malte Brettel, Wolfgang Breuer and Ingo Boehner
Aachen University of Technology (RWTH), Aachen University - Department of Finance and Goldman Sachs Group, Inc.
Downloads 309 (69,961)

Abstract:

German capital market, syndication network, venture capital, deal flow

13.

Mutual Fund Flows and Extrapolative Investors' Expectations: The German Case

Number of pages: 18 Posted: 20 Aug 2007
Wolfgang Breuer and Olaf Stotz
Aachen University - Department of Finance and RWTH Aachen University - Faculty of Economics
Downloads 294 (80,831)

Abstract:

extrapolative expectations, institutional trading, investment flows, mutual funds, price impact

14.

The Role of Venture Capital Firms' Experience, Ownership Structure, and of Direct Measures of Incentive Problems for Venture Capital Contracting in Germany

Number of pages: 32 Posted: 14 Jun 2007
Ron C. Antonczyk, Malte Brettel and Wolfgang Breuer
Aachen University - Department of Finance, Aachen University of Technology (RWTH) and Aachen University - Department of Finance
Downloads 294 (81,129)

Abstract:

Covenants, German capital market, risk indicators, venture capital, corporate governance

15.

Real Estate and Real Estate Finance as a Research Field – An International Overview

Number of pages: 49 Posted: 06 Mar 2011 Last Revised: 01 Aug 2011
Wolfgang Breuer and Claudia Kreuz
Aachen University - Department of Finance and RWTH Aachen University
Downloads 293 (74,380)

Abstract:

real estate research, real estate finance, body of knowledge, citation analysis, Financial Management Approach

16.

Two-Fund Separation and HARA Utility Reconsidered

Number of pages: 68 Posted: 04 Feb 2005 Last Revised: 12 Aug 2009
Wolfgang Breuer and Marc Gürtler
Aachen University - Department of Finance and University of Braunschweig - Institute of Technology, Department of Finance
Downloads 283 (86,545)

Abstract:

bias in beta, borrowing restrictions, Capital Asset Pricing Model, HARA utility, performance evaluation, two-fund separation

17.

Syndication in Private Equity Transactions

Number of pages: 22 Posted: 21 Sep 2008
Malte Brettel, Wolfgang Breuer and Alexander Friedrich
Aachen University of Technology (RWTH), Aachen University - Department of Finance and affiliation not provided to SSRN
Downloads 259 (94,010)

Abstract:

G24, G32, G34

18.

Analysts' Dividend Forecasts, Portfolio Selection, and Market Risk Premia

Number of pages: 32 Posted: 03 Mar 2008
Franziska Becker, Wolfgang Breuer and Marc Gürtler
NORD/LB, Aachen University - Department of Finance and University of Braunschweig - Institute of Technology, Department of Finance
Downloads 253 (96,254)

Abstract:

analysts` forecasts, CAPM, implied returns, market risk premium, portfolio optimization, return estimation

19.

Stochastic Implied Rates of Return, Portfolio Optimization, and the Equity Premium Puzzle

Number of pages: 44 Posted: 09 Feb 2010 Last Revised: 04 Mar 2013
Wolfgang Breuer and Marc Gürtler
Aachen University - Department of Finance and University of Braunschweig - Institute of Technology, Department of Finance
Downloads 252 (97,410)

Abstract:

analysts’ dividend forecasts, equity premium puzzle, implied rate of return, portfolio optimization

20.

Corporate Social Responsibility, Investor Protection, and Cost of Equity: A Cross-Country Comparison

Number of pages: 48 Posted: 26 Feb 2015 Last Revised: 03 Mar 2017
Aachen University - Department of Finance, RWTH Aachen University - Department of Finance, RWTH Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 229 (51,793)

Abstract:

Agency Theory, Corporate Social Responsibility, Cost of Equity, Investor Protection, Stakeholder Theory

21.

Risk Aversion vs. Individualism: What Drives Risk Taking in Household Finance?

European Journal of Finance 20, 446-462, 2014
Number of pages: 29 Posted: 10 Nov 2011 Last Revised: 31 Jul 2014
Aachen University - Department of Finance, RWTH Aachen University - Chair for Business Administration, particularly Business Finance and RWTH Aachen University - Department of Finance
Downloads 229 (71,402)
Citation 2

Abstract:

Household Finance, Individualism, Risk Aversion, Risk Taking

22.

Long-Term Orientation and Relationship Lending – A Cross-Cultural Study on the Effect of Time Preferences on the Choice of Corporate Debt

Management International Review 54, 381-415, 2014
Number of pages: 48 Posted: 01 Nov 2010 Last Revised: 31 Jul 2014
Aachen University - Department of Finance, Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 212 (109,191)

Abstract:

Agency Theory, Bank Loans, Financial Intermediation, National Culture, Relationship Lending

23.

Solar Chimney Power Plants – An Economist’s Point of View

Number of pages: 9 Posted: 06 Aug 2010
Wolfgang Breuer and Anselm Hüwe
Aachen University - Department of Finance and University of Applied Sciences and Technology Aachen (RWTH Aachen) - Chair for Business Administration, particularly Business Finance
Downloads 193 (115,002)

Abstract:

hyperbolic discounting, leverage effect, solar chimney power plants, so-lar updraft towers

Bounded Rationality, Rights Offerings, and Optimal Subscription Prices

Number of pages: 46 Posted: 02 Oct 2006
Wolfgang Breuer
Aachen University - Department of Finance
Downloads 139 (175,678)

Abstract:

bounded rationality, cultural corporate finance, loss aversion, mental accounting, rights issues, signalling

Bounded Rationality, Rights Offerings, and Optimal Subscription Prices

Schmalenbach Business Review, Vol. 60, July 2008
Number of pages: 26 Posted: 12 Oct 2008
Wolfgang Breuer
Aachen University - Department of Finance
Downloads 54 (323,989)

Abstract:

Bounded Rationality, Cultural Corporate Finance, Loss Aversion, Mental

25.

Determining Indicators of Quality of Life Differences in European Cities

EIBURS RWTH Aachen Working Paper No. 1/2012
Number of pages: 43 Posted: 08 Aug 2012 Last Revised: 21 Feb 2014
Wolfgang Breuer and Dominique Brueser
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 171 (128,517)

Abstract:

urban differences, indicators, policy measures, funding efficiency

26.

Calculating Prepayment Penalties in a Transparent Manner

Number of pages: 63 Posted: 30 Aug 2007 Last Revised: 31 Mar 2008
Wolfgang Breuer and Claudia Kreuz
Aachen University - Department of Finance and RWTH Aachen University
Downloads 161 (143,900)

Abstract:

Basel II, Eigenkapitalkosten, Fungibilitaetspraemie, Standardrisikokosten, Vorfaelligkeitsentschaedigung

27.

Framing Effects in Intertemporal Choice Tasks and Financial Implications

Number of pages: 42 Posted: 05 Mar 2012 Last Revised: 21 Aug 2015
Wolfgang Breuer and Can Kalender Soypak
Aachen University - Department of Finance and RWTH Aachen University - Chair for Business Administration, particularly Business Finance
Downloads 160 (140,357)

Abstract:

experiments; household decision making; discounting; framing; preference reversals

28.

Coherent Banking Capital and Optimal Credit Portfolio Structure

Number of pages: 12 Posted: 07 Nov 2006
Wolfgang Breuer and Marc Gürtler
Aachen University - Department of Finance and University of Braunschweig - Institute of Technology, Department of Finance
Downloads 160 (150,827)

Abstract:

Basel II, Coherent Risk Capital, Regulatory Capital, Separation

29.

National Culture and Takeover Performance

Number of pages: 39 Posted: 10 Nov 2011 Last Revised: 25 Jul 2017
Aachen University - Department of Finance, RWTH Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 144 (138,994)

Abstract:

cross-cultural research, cultural values, mergers and acquisitions

30.

On the Determinants of Household Debt Maturity Choice

Applied Economics 47, 449-465, 2015
Number of pages: 33 Posted: 03 Feb 2011 Last Revised: 10 Mar 2016
Aachen University - Department of Finance, University of Zurich - Department of Banking and Finance, RWTH Aachen University - Department of Finance and WHU - Otto Beisheim School of Management
Downloads 138 (159,113)

Abstract:

culture, debt maturity, household finance, household time preferences

31.

Corporate Cash Holdings and Ambiguity Aversion

Review of Finance, Forthcoming
Number of pages: 55 Posted: 28 Apr 2013 Last Revised: 08 May 2016
Aachen University - Department of Finance, University of Trier and RWTH Aachen University - Chair for Business Administration, particularly Business Finance
Downloads 131 (113,039)

Abstract:

Ambiguity aversion, behavioral decision theory, cash holding policy, corporate finance

32.

The Assessment of Risk Behavior: A Cross-Cultural Analysis Using the DOSPERT Scale

Number of pages: 19 Posted: 11 Jul 2013 Last Revised: 25 Apr 2014
Aachen University - Department of Finance, RWTH Aachen University - Department of Decision Theory and Financial Services, RWTH Aachen University - Department of Finance and RWTH Aachen University - Department of Decision Theory and Financial Services
Downloads 115 (126,097)

Abstract:

risk behavior; risk attitude; risk perception; domain specificity; psychometric scale; culture

33.

Financial Impact of Firm Withdrawals from State Sponsor of Terrorism Countries

Journal of Business Ethics, Vol. 144, No. 3, 2017
Number of pages: 37 Posted: 05 Jan 2012 Last Revised: 02 Sep 2017
Wolfgang Breuer, Moritz Felde and Bertram I. Steininger
Aachen University - Department of Finance, RWTH Aachen University and RWTH Aachen University
Downloads 98 (194,217)
Citation 1

Abstract:

firm withdrawal, sin stocks, State Sponsors of Terrorism, stock price reaction

Abstract:

bibliometrics, business administration, citation analysis, forecasting, German authors, journal quality rating, research performance measurement

35.

Explaining Individual Contributions in Public Goods Games Using (only) Reciprocity and Overoptimism

Number of pages: 60 Posted: 12 Feb 2013 Last Revised: 03 Sep 2014
Wolfgang Breuer and Anselm Hüwe
Aachen University - Department of Finance and University of Applied Sciences and Technology Aachen (RWTH Aachen) - Chair for Business Administration, particularly Business Finance
Downloads 63 (279,704)

Abstract:

public goods games, reciprocity, overoptimism, conditional cooperation, false consensus effect

36.

Trust, Reciprocity, and Betrayal Aversion: Theoretical and Experimental Insights

Number of pages: 61 Posted: 26 Mar 2014 Last Revised: 29 Oct 2014
Wolfgang Breuer and Anselm Hüwe
Aachen University - Department of Finance and University of Applied Sciences and Technology Aachen (RWTH Aachen) - Chair for Business Administration, particularly Business Finance
Downloads 59 (209,715)

Abstract:

investment game, trust game, reciprocity, overoptimism, betrayal aversion, false consensus effect

37.

A Reversed Magnitude Effect for Negative Payoffs: Theory and Empirical Evidence from a P2P Lending Market

Number of pages: 36 Posted: 17 Nov 2016 Last Revised: 28 Aug 2017
Aachen University - Department of Finance, RWTH Aachen University - Chair for Business Administration, particularly Business Finance and RWTH Aachen University
Downloads 57 (253,141)

Abstract:

discounting anomalies, magnitude effect, P2P lending

38.

Wealth Effects of the SEC's 'Terror Tool'

Number of pages: 53 Posted: 29 Oct 2011 Last Revised: 26 Feb 2013
Wolfgang Breuer and Moritz Felde
Aachen University - Department of Finance and RWTH Aachen University
Downloads 55 (305,792)
Citation 1

Abstract:

SEC, sin stocks, state sponsors of terrorism, stock price reaction

39.

Loans versus Grants in the Context of Urban Development Funding

EIBURS RWTH Aachen Working Paper No. 2/2012
Number of pages: 38 Posted: 28 Jul 2012 Last Revised: 21 Aug 2012
Wolfgang Breuer
Aachen University - Department of Finance
Downloads 28 (372,885)

Abstract:

asymmetric information, grants, real estate, redeemable loans, urban development

40.

The DMI Approach for Urban Development Funding

EIBURS RWTH Aachen Working Paper No. 3/2012
Number of pages: 54 Posted: 30 Aug 2012 Last Revised: 21 Feb 2014
Wolfgang Breuer and Dominique Brueser
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 25 (387,919)

Abstract:

funding efficiency, funding targets, indicators, urban capital markets, urban development funds

41.

On the Measurement of Risk and Time Preferences in Individual Decision-Making

Number of pages: 19 Posted: 16 Dec 2014 Last Revised: 19 Nov 2016
Wolfgang Breuer and Astrid Juliane Salzmann
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 23 (345,947)

Abstract:

risk attitude, time preferences, decision-making

42.

A Note on Corporate Valuation Using Imprecise Cost of Capital

Number of pages: 55 Posted: 08 Sep 2015 Last Revised: 10 Jun 2016
Wolfgang Breuer, Karsten Kohn and Klaus Mark
Aachen University - Department of Finance, Kreditanstalt für Wiederaufbau (KfW), KfW Development Bank and Kreditanstalt für Wiederaufbau (KFW)
Downloads 20 (156,559)

Abstract:

arithmetic mean, cost of capital, estimation bias, firm valuation, geometric mean

43.

The Double Beauty Premium

Number of pages: 40 Posted: 06 Sep 2015
Wolfgang Breuer and Philipp Schade
Aachen University - Department of Finance and RWTH Aachen University - School of Business and Economics
Downloads 20 (291,153)

Abstract:

Coordination Game, Strategic Risk, Physical Attractiveness, Beauty

44.

Cultural Finance as a Research Field – An Evaluative Survey

Number of pages: 60 Posted: 10 Sep 2015 Last Revised: 28 Jun 2017
Wolfgang Breuer and Claudia Nadler
Aachen University - Department of Finance and RWTH Aachen University
Downloads 19 (189,374)

Abstract:

Altruism, Behavioral Finance, Cultural Finance, Dictator Games, Schwartz Value Survey

45.

Failures in Urban Capital Markets and Consequences for Project Funding

Number of pages: 43 Posted: 22 Oct 2013
Wolfgang Breuer and Dominique Brueser
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 18 (433,337)

Abstract:

urban development, market failure, policy interventions, funding instruments

46.

Using the Carrot and the Stick? Theoretical and Experimental Insights into Positive vs. Negative Reciprocity

Number of pages: 53 Posted: 09 Dec 2014
Wolfgang Breuer and Anselm Hüwe
Aachen University - Department of Finance and University of Applied Sciences and Technology Aachen (RWTH Aachen) - Chair for Business Administration, particularly Business Finance
Downloads 14 (408,915)

Abstract:

convex ultimatum game, overoptimism, social preferences, reciprocity

47.

CEO Power, Levels of Institutional Discretion, and CSR Choice

Number of pages: 41 Posted: 02 May 2016
Wolfgang Breuer and David Johannes Rosenbach
Aachen University - Department of Finance and RWTH Aachen University - Department of Finance
Downloads 0 (238,869)

Abstract:

CEO, Corporate Governance, Corporate Social Responsibility, Managerial Discretion, National Institutions

48.

Breaking the Rules: Anticipation of Norm Violation in a Binary‐Choice Trust Game

Economics Letters, Vol. 146, 123-125, 2016
Number of pages: 8 Posted: 02 Apr 2016 Last Revised: 15 Aug 2016
Wolfgang Breuer, Christiane Helduser and Philipp Schade
Aachen University - Department of Finance, RWTH Aachen University - School of Business and Economics and RWTH Aachen University - School of Business and Economics
Downloads 0 (349,130)

Abstract:

Trust, Norm, Reciprocity, Reference point, Laboratory experiment

49.

The Higher Your Expectations, the Lower Your Trust: Avoiding the Experience of Unfulfilled Expectations

Number of pages: 32 Posted: 15 Dec 2015 Last Revised: 01 Apr 2017
Wolfgang Breuer, Christiane Helduser and Philipp Schade
Aachen University - Department of Finance, RWTH Aachen University - School of Business and Economics and RWTH Aachen University - School of Business and Economics
Downloads 0 (322,023)

Abstract:

Betrayal Aversion, Expectations, Trust, Trustworthiness

50.

Kimball's Prudence and Two-Fund Separation as Determinants of Mutual Fund Performance Evaluation

Kredit und Kapital, 2007
Posted: 20 Aug 2007
Wolfgang Breuer and Marc Gürtler
Aachen University - Department of Finance and University of Braunschweig - Institute of Technology, Department of Finance

Abstract:

investor specific performance measure, performance evaluation, prudence, skewness preferences

51.

Performance Evaluation and Preferences beyond Mean-Variance

Financial Markets and Portfolio Management, Vol. 17, No. 2, pp. 213-233, 2003
Posted: 12 Sep 2005
Wolfgang Breuer
Aachen University - Department of Finance

Abstract:

Other Papers (1)

Total Downloads: 0    Citations: 0
1.

Retail Banking and Behavioral Financial Engineering - the Case of Structured Products

Journal of Banking and Finance, Vol. 31, pp. 827-844, 2007
Posted: 17 Jun 2006
Wolfgang Breuer and Achim Perst
Aachen University - Department of Finance and Aachen University - Department of Finance

Abstract:

Behavioral Corporate Finance, Behavioral Finance, Financial Engineering, Structured Products